China to step up financial support for green development
Chinese authorities have issued guidelines to strengthen the financial support for green and low-carbon development.
According to the document jointly released by several government departments including the People's Bank of China (PBOC), the country will basically build a world-leading financial support system for green development in the next five years and make policies more coordinated, effective and mature by 2035, with better resource allocation, risk management and market pricing.
China will formulate and introduce unified carbon accounting standards for financial institutions, and promote institutions and financing entities to make environmental information disclosure.
Efforts will be made to gradually expand the scope of trading entities suitable for the development of China's carbon market, increase credit support for green development and low-carbon transformation in energy, industry, transportation, construction and other fields, and support eligible enterprises to list at home and abroad for financing or refinancing.
The guidelines also put forward measures to improve laws and regulations, enhance green finance assessment and evaluation mechanisms, enrich relevant monetary policy tools, and deepen regional reform of green finance.
The PBOC said work will be done to incorporate climate change-related risks into the macro-prudential policy framework, and to encourage financial institutions to accordingly improve their risk-control systems and corporate governance frameworks.
Related articles
Real Madrid celebrates another Champions League title with its fans on streets of Spanish capital
MADRID (AP) — For the second time in three seasons, and sixth in 10 years, Real Madrid is celebratin2024-06-03Graduation Ceremony Held at Kindergarten in Lanzhou, NW China's Gansu
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03Schools in N China Organize After
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03Technologies Aid Efforts to Raise Public Awareness of Cultural Relic Restoration
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03US Energy Secretary calls for more nuclear power while celebrating $35 billion Georgia reactors
WAYNESBORO, Ga. (AP) — U.S. Energy Secretary Jennifer Granholm on Friday called for more nuclear rea2024-06-03Hongniya Village Takes Measures to Boost Rural Revitalization in Shandong
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03
atest comment